currency


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Currency

Currency

Money generally accepted in circulation in a certain jurisdiction. That is, currency is any form of money that businesses in a certain jurisdiction will accept in exchange for goods and services. Usually, the domestic government sets its own currency and provides penalties to persons and businesses in its jurisdiction that do not accept it. However, some countries (especially those experiencing hyperinflation) accept other countries' currencies informally. Alternatively, a country may use the currency of another (as some countries have done with the U.S. dollar) or pool resources to make an international currency accepted in several countries (the euro being the most prominent example). See also: Foreign exchange.

currency

or

cash

the coins and bank notes which constitute the physical component of a country's MONEY SUPPLY, i.e. coins and notes have a physical identity, whereas the other assets comprising the money supply such as bank deposits, are book-keeping entries and have no tangible life of their own. See LEGAL TENDER, FOREIGN CURRENCY.

currency

the BANK NOTES and coins issued by the monetary authorities that form part of an economy's MONEY SUPPLY. The term currency’ is often used interchangeably with the term cash in economic analysis and monetary policy.
References in periodicals archive ?
Moreover, although the 2006 proposed regulations still require a taxpayer to recognize section 987 foreign currency gain or loss only as remittances are made, unrecognized foreign currency gain or loss is recognized only in the same proportion as the remittance bears to all of the assets of the Section 987 QBU.
Since the 1997-98 Asian currency crisis, most emerging Asian market economies have run a de facto or explicit peg against the U.
To stay ahead of counterfeiters as advances in technology make digital counterfeiting of currency easier and cheaper, the government expects to redesign the currency about every seven to ten years.
The FCA adds that, "Due to the ongoing fixed rate of exchange, it has been estimated that the Chinese currency is undervalued by approximately 40 percent in relation to the U.
The euro has managed to make itself the second most-used reserve currency in its three years, displacing the Deutsche mark and well ahead of the yen and the pound.
But the more interesting trial would be of capitalism itself and of the trigger of the explosion: currency markets and traders.
No sudden challenge is expected although the euro eventually could challenge the dollar as the international currency of choice.
Glover created Ithaca Hours in 1991 by approaching local businesses with the offer of two free Ithaca Hours (worth $20) if they accepted the currency for payment at their store.
Such fake notes, agreed scientists on NRC's committee on next-generation currency design, could quickly overwhelm anticounterfeiting efforts because tracing the bills to their source is "very difficult.
Many countries require that foreign enterprises maintain their books in local currency and according to local generally accepted accounting principles.
The rating assigned to the debentures is equivalent to CEMEX's foreign and local currency IDRs in line with Fitch's criteria for rating preferred stock and hybrid securities.